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$1,249,900
Est. payment /mo
5 Beds
3 Baths
UPDATED:
Key Details
Property Type Multi-Family
Sub Type Res Income 2-4 Units
Listing Status Active
Purchase Type For Sale
Subdivision Alamitos Heights (Ah)
MLS Listing ID SB25063034
Bedrooms 5
Property Sub-Type Res Income 2-4 Units
Property Description
We are pleased to exclusively offer for sale this 3 Unit multi-family investment located in the vibrant 90802 submarket of Long Beach. This large 3,642 SF triplex is steps away from 4th Street and strategically positioned near Retro Row. This is the first time the property has been on the market in 20 years and the unit interiors have been meticulously maintained representing a true pride of ownership asset. In addition to the buildings excellent location, one of the features is (2) generously sized 2 bedroom/1 bath units and (1) large 1 bedroom/1 bath unit. Further, the 1 bedroom back unit contains a spacious patio and gazebo idyllic for all residents. Additionally, the upper 2 Bedroom unit will be delivered VACANT at the close of escrow. Along these lines, the property presents itself as an excellent owner user opportunity for buyer(s) looking to live in the vacant unit while utilizing the income from the other (2) to offset their annual debt service. Each unit is separately metered for gas and electricity, lowering overhead costs for the owner. As it stands, the offering presents strong day 1 income with a current CAP Rate of 4.45% and future upside given the areas excellent rental demand. In addition, the tenants have access to a garage and elongated driveway which equates to at least (6) total parking spaces on site, which is especially significant in this parking impacted submarket. On top of this, the large back yard is ideally suited to build ADUs for investors looking to increase their annual cash flow. Lastly, the building is eligible for the Mills Act, which pro
Location
State CA
County Los Angeles
Zoning Public Rec
Direction On the corner of 4th St, and Cherry Ave
Interior
Fireplace No
Exterior
Utilities Available Sewer Connected
View Y/N No
Building
Story 2
Level or Stories 2
Others
Tax ID 7263003005
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Listed by Keaton Quaack Lyon Stahl Investment Real Estate, Inc.